Experian 2014 Annual Report Download - page 135
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Financial statements • Notes to the Group financial statements 131
17. Discontinued operations – comparison shopping and lead generation businesses
Experian divested the Group’s comparison shopping and lead generation businesses in October 2012 and the results and cash flows
of these businesses are classified as discontinued.
(a) Results
2014
US$m
2013
US$m
Revenue – 147
Labour costs – (34)
Data and information technology costs – (7)
Marketing and customer acquisition costs – (99)
Other operating charges – (12)
Total operating expenses – (152)
Loss before tax – (5)
Current tax credit – 2
Loss after tax of discontinued operations – (3)
Profit on disposal of discontinued operations (note 42(a)) – –
Tax credit in respect of disposal 7 121
Profit after tax on disposal of discontinued operations 7 121
Profit for the financial year from discontinued operations 7 118
The loss before tax of US$5m for the year ended 31 March 2013 reported for discontinued operations in note 9 comprises the loss
before tax of US$5m and a profit on disposal of US$nil. In the year ended 31 March 2013, a tax credit of US$121m, comprising a
deferred tax charge of US$13m and a current tax credit of US$134m, was recognised primarily on tax losses arising in respect of
the disposal. A further current tax credit of US$7m was recognised in the year ended 31 March 2014.
(b) Cash inflow from operating activities
2014
US$m
2013
US$m
Tax received on income – 2
Tax recovery on disposal transaction 144 85
Tax received in respect of discontinued operations 144 87
Other cash flows from operating activities (4) (23)
Cash inflow from operating activities 140 64
(c) Cash inflow/(outflow) on disposal
A net cash inflow of US$5m on the disposal of the discontinued businesses (2013: outflow of US$8m) is disclosed within net cash
flows used in investing activities from continuing operations in the Group cash flow statement (see note 42(b)).